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Choosing the best home loan program

Finding the Best Loan Program for Your Specific Needs

A Lid for Every Pot! Guest Post by Tim Britt Last month I talked about Affordable mortgage programs.  In an earlier article, I mused that there isn’t a “one-size-fits-all” mortgage program…and began a dialogue about three categories of mortgages:  Affordable, Specialty, and Traditional.  This month – we’ll tackle the Traditional Mortgage Programs and discuss their features and benefits, as well as the typical clientele for them. Traditional Mortgages are loan programs that typically appeal to borrowers with established credit, with…


How to Save Thousands of Dollars in Interest on Your Mortgage

One of the most common loans you can get to buy a home is a 30-year fixed rate mortgage. If the thought of paying for your home over the course of 30-years seems daunting, here are some easy ways to shorten that term which will actually end up saving you money over the life of your loan. Any additional payments to the principal amount (the original sum of money borrowed in a loan), helps to cut down the amount of interest that you will…

Credit Scores Explained for Nashville Home Buyers, Real Estate, Mortgage, Home Loans

The Mystery of the Credit Score… Part 2!

The Mystery of the Credit Score… Part 2! Guest Post by Tim Britt Last month, we began the conversation about Credit by discussing the Mystery of the Credit Score.  As I mentioned, the numerical score is only half of the story!  This month, we’ll talk about, as Paul Harvey would say “…the rest of the story!” In addition to the score, a borrower’s Credit History can also be a determining factor in qualifying for a particular home loan program, or…

Using equity from home sale to pay down payment toward new home

25% of Homes with a Mortgage are Now Equity Rich!

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position. Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the…

Choosing the right home loan | Nashville real estate

Questions to Ask When Choosing Your Lender

Our goal is not simply to walk our clients blindly through their real estate transactions and collect payment at closing; it would be a disservice if we did not educate them along the way and equip each of our clients to make well-informed decisions throughout the process, from choosing the right professionals to finding the right properties. In many cases, especially with first-time homebuyers, the client may not know what to ask or what the answers mean for them. Tim…


Getting Pre-Approved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, understanding your budget will give you the confidence…


Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year. The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase…


Bubble Alert! Is it Getting Too Easy to Get a Mortgage?

There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year: More buyers are putting less than 20% down to purchase a home The average credit score on closed mortgages is lower More low-down-payment programs have been introduced This has some people…


Can I get a Mortgage With Student Loan Debt? Yes…you can!

Many first-time homebuyers, particularly recent college graduates are wondering how student loan debt may affect their ability to qualify for the best mortgage programs. A recent survey by Student Loan Hero (a service that helps people pay off student debt more efficiently) reported that 40% of college-educated adults postponed buying a home because of their student loans. Even though student debt has surged by 56% in the last decade, home ownership is still well within reach for many. Here are…